581-583 PALISADE AVE, JC, Heights NJ, 07307

Active

581-583 PALISADE AVE

JC, Heights NJ, 07307

$2,200,000

Active

12 Beds

12 Baths

Multi-family

**12 UNITS** Located just one block from the Congress St Elevator to Hoboken, 581-583 Palisade Ave offers a prime development opportunity in the desirable Jersey City Heights. Situated in an R3 development zone, this 50x100 lot currently houses 12 units and is ready for a visionary developer to reimagine its potential. With its strategic location and ample space, this property provides the perfect canvas for a new residential project, promising a blend of urban convenience and modern living in a thriving neighborhood. $2,200,000 for the package. UNIT # Rent $ 581 1 $ 1,047 2 $ 1,059 3 $ 963 4 $ 851 5 $ 949 6 $ 1,300 1 - delivered vacant) $ 636 2 $ 939 3 $ 1,300 4 $ 780 5 $ 950 6 $ 937 Total $ 11,711 Annual $ 140,532 Taxes $ 22,613 PSEG/Utilities $ 4,881 JC Water $ 9,559 Insurance $ 12,635 Cleaning $ 1,200 Repair and Maint $ 2,940 Pets control $ 960 Total Expenses $ 54,788 NOI $ 85,744 - Price $ 2,200,000 To raise rents in Jersey CityEvery $100 spent on renovations, you get $1.35 in the first $5,000. After $5,000 you get $1.55 for every $100 spent per month. (Vacancy Capital Improvment) VCI application, costs $125 per unit.

240021055

MLSⓇ ID

October 26, 2024

Listed

November 22, 2024

Updated

Map

581-583 PALISADE AVE
JC, Heights NJ, 07307

Interior Features

Bedrooms: 12
Total Bathrooms: 12
Full Bathrooms: 12
Fireplace: No
Cooling: No
Heating: Yes
Heating Description: Radiators, Gas

Exterior/Building Features

Architectual Style: Multi-Level

Other Property Details

Area Name: JC, Heights
Garage: No
Parking: None
View: No
County: Hudson
Pool: No

Courtesy of KELLER WILLIAMS CITY LIFE REALTY with THOMAS MISURACA,
Listing Contact: 201-659-8600

The IDX display contains information sourced from the Realty Multiple Listing System, Inc. as of 11/22/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

Data last updated on 11/22/2024 at 9:02 PM UTC